Tickmill

Copper prices are testing support, potential bounce

Long
OANDA:XCUUSD   CFDs on Copper (US$ / lb)
Copper prices are testing our first support in line with our 23.6% fibonacci retracement , 61.8% fibonacci extension and ascending trend line where we could see a further upside above this level. EMA and Ichimoku cloud are showing signs of bullish pressure as well, in line with our bullish bias.
This analysis is provided as general market commentary and does not constitute investment advice.

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